Bank of Canada Holds Interest Rates Steady: What It Means for Your Investments
The Bank of Canada held its benchmark rate at 5.0%, balancing inflation risks with slower growth. For Canadians, the decision means steady mortgage payments, attractive savings yields, and a more stable outlook for investments.
Canada Introduces Strict Crypto Rules for Investment Funds
Canada’s securities regulators have introduced strict new rules for crypto investment funds, focusing on custody, transparency, and investor protection
Canadian Dollar Drops on Weak Job Data, Investors Brace for Possible Rate Cuts
The Canadian dollar fell after weak jobs data, raising speculation that the Bank of Canada may cut interest rates soon
The Ultimate Guide to Understanding Insurance: Types, Benefits, and How to Choose the Right Policy
Insurance is a financial safety net that protects individuals, families, and businesses from unexpected losses. Whether it’s health emergencies, car accidents, natural disasters, or legal liabilities, insurance provides peace of mind by mitigating financial risks.
Bitcoin Crashes Below $50K as Mt. Gox Begins $9B Repayments
Bitcoin plunged 22% to $48,150 today as defunct exchange Mt. Gox started distributing 140,000 BTC to creditors. The selloff liquidated $2.1 billion in leveraged positions, dragging Ethereum (-18%) and Solana (-27%) down with it.
Nvidia Overtakes Microsoft as World’s Most Valuable Company
Nvidia’s stock surged 3.5% today to $135/share, dethroning Microsoft after just two weeks at #1. The milestone comes as CEO Jensen Huang announces next-gen AI chips shipping in Q4 2024, with performance claims doubling current models.
BREAKING: Fed Cuts Rates by 0.25% – First Reduction Since 2020
The Federal Reserve lowered its benchmark rate to 5.00%-5.25% today, responding to cooling inflation (now at 2.9%). This ends the most aggressive hiking cycle since the 1980s. Mortgage rates are expected to dip below 6.5% within weeks, while credit card APRs should follow modestly.
Bitcoin Plunges 15% After Mt. Gox Repayment News
Bitcoin dropped to $54,000 on June 24 – its lowest since February – after Mt. Gox administrators started distributing 140,000 BTC. This creates potential selling pressure as creditors may cash out coins purchased at just $500 in 2014. The selloff dragged down crypto-related stocks (Coinbase -12%, MicroStrategy -15%).
Nvidia Hits $3 Trillion: AI Boom Reshapes Market Leadership
Nvidia’s stock surged 150% YTD, reaching a $3 trillion valuation on June 18. The chipmaker now commands 80% of AI processor market share, with data center revenue growing 427% YoY. This reflects the AI infrastructure gold rush as companies scramble to deploy large language models.
Fed Holds Rates Steady: What It Means for Your Wallet
The Fed’s June 2024 decision marks the seventh consecutive pause after 2022-2023’s aggressive hikes. While inflation has cooled from 9% to 3.4%, policymakers want more confidence before cutting rates. This means borrowers won’t see relief yet – mortgage rates remain near 7%, and credit card APRs stay at record highs.